Queensland aged care provider PresCare in partnership with Catalyst Health REIT has announced its acquisition of a 5,000 sqm site from Aura Holdings for the development of a three-storey aged care facility in Corinda.
Retirement village operator Aura is developing a 262-unit retirement village development on the rest of the 3.1 hectare site, formerly known as Hopetoun, which it acquired from PresCare in 2016.
According to Aura Director, Tim Russell, the company always had plans to subdivide a portion of the Menin Road site for aged care which he believes adds to their retirement village offering.
Once Aura had secured a development approval they approached developer and operator PresCare, who have an extensive track record in aged care, to make it happen.
Construction of the aged care facility is expected to start in 2018 with its first residents moving in early 2020.
